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Galderma's CFO to step down, shares seen lower

By Reuters News

** Shares in Galderma GALD.S are seen down 2% in pre-market indications

** The skincare company said late on Monday its CFO Luigi La Corte, who joined in May, will step down

** "We are reassured with the context that he is leaving to pursue another 'significant' opportunity, with an update likely in the coming days, and we do not see this as a concern for business momentum," analysts at Jefferies wrote in a note after catching up with La Corte

** They still see the early departure as "disappointing" due to La Corte's experience and his deal-making track record

** Analysts at Vontobel say that his short stay and the timing following the recent acquisition of ZO Skin Health could lead to speculation about possible reasons for the CFO's departure

** "We have not noticed underlying reasons that would support possible reasons other than the new opportunity," they add

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